Defeat in the present confrontation with Iran will be of an entirely different character. It can neither be repaired nor ignored. There will be no return to the status quo ante, no ultimate American triumph that will undo or overcome the harm done.

The ceasefire reached Wednesday has raised hopes of halting hostilities between Iran, Israel and the United States, but many issues remain unresolved.

Talks will begin in Pakistan on Saturday to try to build on the ceasefire.

Broad markets got a nice boost going into the midweek as hopes for an Iran-U.S. peace deal spiked. Undoubtedly, things could go either way as the U.S. awaits Iran’s response to its one-page proposal.

The cost of the Iran war has increased to $29 billion to date, Pentagon officials told lawmakers in both chambers Tuesday.

There has been no uprising by Iranians against their tyrannical rulers. Iran has not yet verifiably renounced its aspirations to have a nuclear program or agreed to hand over its stocks of highly enriched uranium. There are no guarantees that the IRGC will not try to rebuild its proxy networks in Lebanon or Gaza.